Artificial intelligence marketing solutions provide ways to dissolve the gap between data science and execution. The process of sorting through and analyzing the huge pile of data was once an overwhelming process and is now not only viable, but it’s actually easy.
What is Artificial Intelligence Marketing?
Artificial intelligence marketing (AI Marketing) is an integrated method of using customer data and AI concepts like machine learning to anticipate your customer’s next move and improve the customer experience.
The progression of big data and progressive analytic solutions have made it possible for marketers to build a clearer picture of their target audiences than ever before and in this center of advancement lies artificial intelligence (AI) marketing.
The applications of Artificial Intelligence in marketing
The usage of Artificial Intelligence was once thought of as a marketing technology that only larger businesses could use, but today, now even smaller businesses can apply publicly available algorithms or off the shelf machine learning services to generate useful insights and create prediction models based on their customer’s behaviors.
Gartner’s Hype Cycle for 2017 states that Artificial Intelligence is still in the innovation trigger phase with 10 years or more before it reaches its highland.
Some of the applications of Artificial Intelligence in marketing are:
- Marketing Automation
- Voice search
- Predictive Analytics
- Lead scoring
- Ad targeting
Marketing automation is an effective hybrid email marketing tool which connects with your CRM to enable you to automatically send highly targeted emails to leads that are personalized specifically to them.
Benefits achieved with the help of marketing automation tool are they reduce the staffing costs and increase in annual revenue and also in average deal size. They are proven to be more effective by reducing repetitions.
It targets the potential audience from different channels across the different platforms. It will boost customer lifetime value through up-sells and cross-sells. It provides a better report on what strategies work well and what does not.
Best examples of Marketing Automation
- Win-back programs
- Treatment programs
- Multichannel programs
- Remainder programs
- Repurchase programs
(Image Source: https://www.intouchcrm.com/)
Voice search is a speech recognition tool that allows users to search by saying their desired terms aloud rather than typing them into a search field. The increase of smartphones and other web-enabled mobile devices has created interest in voice search.
Voice search plays a vibrant role in search engine optimization (SEO) strategy of digital marketing. They tend to offer a better customer experience since it is available to them at all the time.
Predictive Analytics is a combination of three parameters such as data, statistical algorithms and machine learning techniques to identify the probability of the future with the historical data.
The connection between the predictive analytics and marketing is that it uses data science to accurately predict which marketing actions and strategies are the most likely to succeed. To put it in simple terms predictive intelligence drives the marketing decisions.
Best examples of Predictive Analytics
(Examples are based on the travel industry)
- Recommender systems for travel products (e.g., hotels, flights, ancillary services)
- Video, image, and voice recognition systems for travel purposes
- Click and conversion optimization for travel products and online-advertising campaigns
- Social media analysis (e.g., sentiment analysis and profiling)
- Alerting and monitoring
The methodology used by sales and marketing departments to calibrate the worthiness of leads, or potentials customers by attaching values to them based on their behavior relating to their interest in products or services is called lead scoring.
This lead scoring method produces more quality leads. The lead scoring process provides an insight into the lead’s buying process. It also provides a detailed profile of potential leads. The quality lead scoring simplifies the lead evaluation process are some beneficial factors of using the lead scoring approach in digital marketing.
(Image Source: https://getvoip.com/)
Ad targeting is meant to reach certain customers based on demographics, behavior and other second-order activities that are learned usually through data exhaust produced by users themselves. Targeted ads are also known as Ad targeting.
The purpose of using Ad- targeting in marketing process because behavioral targeting generates higher click numbers. The same behavioral targeting gets into the course of converting visitors into customers and also it improves the ROI.
Best examples of Ad-targeting
- Social networking ads
- Behavioral Ads
- Search engine ads
The applications in this article are very few in the incorporation of artificial intelligence. This technology has very huge applications and also it integrates with other technologies like IOT to form several new kind of application. For the business growth and achieveing better ROI, AI Marketing is the future.